Chipotle Mexican Grill Q3 Profit Up 15.3%; Sales Top Estimate - Quick Facts

(RTTNews) - Chipotle Mexican Grill, Inc. (CMG) reported third quarter net income of $83.4 million, an increase of 15.3 percent from $72.3 million in the previous year period. Diluted earnings per share was $2.66, an increase of 17.2 percent from $2.27 in the same quarter a year earlier.

On average, 25 analysts polled by Thomson Reuters expected earnings of $2.78 per share for the quarter. Analysts' estimates typically exclude special items.

Revenue was $826.9 million, up 18.0% from the prior year period. The company attributed the revenue growth to new restaurants not in the comparable base and a 6.2 percent increase in comparable restaurant sales, which was driven by increased traffic.

Analysts estimated revenues of $820.28 million for the quarter.

For 2013, the company expects 165 - 180 new restaurant openings and mid single-digit comparable restaurant sales and for 2014, the company targets 180 - 195 new restaurant openings and low single-digit comparable restaurant sales excluding any menu price increases.